Vietnam’s Resolution No. 84/NQ-CP: Proposing and considering a 30% CIT reduction of 2020

This is a notable content mentioned at the Resolution No. 84/NQ-CP of Vietnam’s Government on tasks and solutions for dealing with difficulties in business operations, promoting disbursement of public investment and ensuring social order and safety during Covid-19 epidemic.

Đề nghị, xem xét giảm 30% thuế TNDN của năm 2020, 84/NQ-CP

In order to continue to deal with difficulties in business operations, promote disbursement in public investment and ensure public order and safety to maintain economic development and strive to achieve socio-economic development objectives and tasks, in addition to the tasks and solutions falling under the authority of the Government, the Government shall also submit to the Standing Committee of the National Assembly and the National Assembly for consideration and decision the following contents:

- Set environment protection tax for aviation fuel as 70% of the tax specified in Resolution No. 579/2018/UBTVQH14 dated September 26, 2018 until December 31, 2020 inclusively.

- Exempt fees for permitting extraction of water resources for enterprises extracting water for business operations in 2020.

- Reduce 30% of payable corporate income tax of 2020 for small and very-small enterprises during Covid-19 epidemic.

- Assign the Government to adjust central government budget investment plans in 2020 of ministries, central and local government authorities to stay within the total central government budget for 2020 decided by the National Assembly.

- Issue resolutions on conversion of investment methods for projects related to eastern North-South expressway from public-private partnerships to public investment.

- Permit application of regulations under projects on Law on amendments to Law on Construction coming into effect from the date of approval:

+ Construction permits for constructions whose construction design is approved by agencies specialized in construction within their entitlement after fundamental design is issued or constructions whose economic - construction technical investment reports are approved by competent authorities according to Law on Construction are exempted;

+ Annul entitlement to issue construction permits and assign People’s Committees of provinces to issue construction permits for special constructions.

View more details at the Resolution No. 84/NQ-CP of Vietnam’s Government, effective from May 29, 2020.

Le Hai

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